Wedbush Securities Inc. Has $3.28 Million Position in Starbucks Corporation (SBUX)

Wedbush Securities Inc. lessened its position in shares of Starbucks Corporation (NASDAQ:SBUX) by 6.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 56,219 shares of the coffee company’s stock after selling 3,686 shares during the period. Wedbush Securities Inc.’s holdings in Starbucks Corporation were worth $3,278,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the stock. IFC Holdings Incorporated FL increased its holdings in Starbucks Corporation by 28.4% during the 2nd quarter. IFC Holdings Incorporated FL now owns 20,954 shares of the coffee company’s stock worth $1,220,000 after acquiring an additional 4,641 shares during the period. Sigma Planning Corp increased its holdings in Starbucks Corporation by 3.2% during the 2nd quarter. Sigma Planning Corp now owns 25,386 shares of the coffee company’s stock worth $1,480,000 after acquiring an additional 797 shares during the period. Montag & Caldwell LLC increased its holdings in Starbucks Corporation by 3.2% during the 2nd quarter. Montag & Caldwell LLC now owns 1,994,879 shares of the coffee company’s stock worth $116,322,000 after acquiring an additional 62,288 shares during the period. Traynor Capital Management Inc. increased its holdings in Starbucks Corporation by 7.2% during the 2nd quarter. Traynor Capital Management Inc. now owns 12,782 shares of the coffee company’s stock worth $760,000 after acquiring an additional 863 shares during the period. Finally, Rhumbline Advisers increased its holdings in Starbucks Corporation by 1.2% during the 2nd quarter. Rhumbline Advisers now owns 2,412,309 shares of the coffee company’s stock worth $140,662,000 after acquiring an additional 29,293 shares during the period. 70.82% of the stock is currently owned by institutional investors and hedge funds.

A number of equities analysts have recently commented on SBUX shares. Jefferies Group LLC reissued an “average” rating and issued a $65.00 price target on shares of Starbucks Corporation in a report on Friday, July 28th. BidaskClub lowered shares of Starbucks Corporation from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 15th. UBS AG set a $70.00 price target on shares of Starbucks Corporation and gave the stock a “buy” rating in a report on Wednesday, June 28th. Piper Jaffray Companies reissued a “buy” rating and issued a $70.00 price target on shares of Starbucks Corporation in a report on Friday, July 14th. Finally, Mizuho reissued a “buy” rating and issued a $75.00 price target on shares of Starbucks Corporation in a report on Thursday, July 6th. Thirteen investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and two have issued a strong buy rating to the stock. Starbucks Corporation has a consensus rating of “Buy” and a consensus target price of $64.24.

Starbucks Corporation (NASDAQ:SBUX) last posted its quarterly earnings data on Thursday, July 27th. The coffee company reported $0.55 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.55. Starbucks Corporation had a net margin of 12.93% and a return on equity of 52.82%. The firm had revenue of $5.66 billion for the quarter, compared to the consensus estimate of $5.76 billion. During the same quarter in the prior year, the company posted $0.49 earnings per share. The company’s revenue for the quarter was up 8.1% compared to the same quarter last year.

In other Starbucks Corporation news, Director Jorgen Vig Knudstorp purchased 18,000 shares of the business’s stock in a transaction that occurred on Friday, August 4th. The shares were bought at an average price of $55.30 per share, for a total transaction of $995,400.00. Following the acquisition, the director now owns 18,000 shares in the company, valued at $995,400. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider John Culver sold 64,776 shares of the stock in a transaction that occurred on Friday, September 8th. The stock was sold at an average price of $53.54, for a total transaction of $3,468,107.04. Following the completion of the transaction, the insider now owns 390,341 shares in the company, valued at approximately $20,898,857.14. The disclosure for this sale can be found here. Corporate insiders own 3.40% of the company’

A number of other institutional investors have also recently bought and sold shares of the stock. IFC Holdings Incorporated FL increased its holdings in Starbucks Corporation by 28.4% during the 2nd quarter. IFC Holdings Incorporated FL now owns 20,954 shares of the coffee company’s stock worth $1,220,000 after acquiring an additional 4,641 shares during the period. Sigma Planning Corp increased its holdings in Starbucks Corporation by 3.2% during the 2nd quarter. Sigma Planning Corp now owns 25,386 shares of the coffee company’s stock worth $1,480,000 after acquiring an additional 797 shares during the period. Montag & Caldwell LLC increased its holdings in Starbucks Corporation by 3.2% during the 2nd quarter. Montag & Caldwell LLC now owns 1,994,879 shares of the coffee company’s stock worth $116,322,000 after acquiring an additional 62,288 shares during the period. Traynor Capital Management Inc. increased its holdings in Starbucks Corporation by 7.2% during the 2nd quarter. Traynor Capital Management Inc. now owns 12,782 shares of the coffee company’s stock worth $760,000 after acquiring an additional 863 shares during the period. Finally, Rhumbline Advisers increased its holdings in Starbucks Corporation by 1.2% during the 2nd quarter. Rhumbline Advisers now owns 2,412,309 shares of the coffee company’s stock worth $140,662,000 after acquiring an additional 29,293 shares during the period. 70.82% of the stock is currently owned by institutional investors and hedge funds.

A number of equities analysts have recently commented on SBUX shares. Jefferies Group LLC reissued an “average” rating and issued a $65.00 price target on shares of Starbucks Corporation in a report on Friday, July 28th. BidaskClub lowered shares of Starbucks Corporation from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 15th. UBS AG set a $70.00 price target on shares of Starbucks Corporation and gave the stock a “buy” rating in a report on Wednesday, June 28th. Piper Jaffray Companies reissued a “buy” rating and issued a $70.00 price target on shares of Starbucks Corporation in a report on Friday, July 14th. Finally, Mizuho reissued a “buy” rating and issued a $75.00 price target on shares of Starbucks Corporation in a report on Thursday, July 6th. Thirteen investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and two have issued a strong buy rating to the stock. Starbucks Corporation has a consensus rating of “Buy” and a consensus target price of $64.24.

Starbucks Corporation (NASDAQ:SBUX) last posted its quarterly earnings data on Thursday, July 27th. The coffee company reported $0.55 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.55. Starbucks Corporation had a net margin of 12.93% and a return on equity of 52.82%. The firm had revenue of $5.66 billion for the quarter, compared to the consensus estimate of $5.76 billion. During the same quarter in the prior year, the company posted $0.49 earnings per share. The company’s revenue for the quarter was up 8.1% compared to the same quarter last year.

In other Starbucks Corporation news, Director Jorgen Vig Knudstorp purchased 18,000 shares of the business’s stock in a transaction that occurred on Friday, August 4th. The shares were bought at an average price of $55.30 per share, for a total transaction of $995,400.00. Following the acquisition, the director now owns 18,000 shares in the company, valued at $995,400. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider John Culver sold 64,776 shares of the stock in a transaction that occurred on Friday, September 8th. The stock was sold at an average price of $53.54, for a total transaction of $3,468,107.04. Following the completion of the transaction, the insider now owns 390,341 shares in the company, valued at approximately $20,898,857.14. The disclosure for this sale can be found here. Corporate insiders own 3.40% of the company’s stock.

WARNING: “Wedbush Securities Inc. Has $3.28 Million Position in Starbucks Corporation (SBUX)” was first reported by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are accessing this article on another website, it was copied illegally and reposted in violation of international copyright legislation. The original version of this article can be read at https://ledgergazette.com/2017/10/13/wedbush-securities-inc-has-3-28-million-position-in-starbucks-corporation-sbux.html.

Starbucks Corporation Company Profile

Starbucks Corporation (Starbucks) is a roaster, marketer and retailer of coffee. As of October 2, 2016, the Company operated in 75 countries. The Company operates through four segments: Americas, which is inclusive of the United States, Canada, and Latin America; China/Asia Pacific (CAP); Europe, Middle East, and Africa (EMEA), and Channel Development.

Institutional Ownership by Quarter for Starbucks Corporation (NASDAQ:SBUX)

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